VOA标准英语10月-White House says US In for 'Tough' Economic Times
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The White House says the U.S. economy is struggling to grow and generate jobs, despite aggressive steps taken by the federal government to prop1 up financial institutions and unfreeze tight credit. VOA's Michael Bowman reports from Washington, the Bush administration's comments come amid further signs that the number of Americans looking for work is growing. |
| White House Spokeswoman Dana Perino, 23 Oct 2008 |
As a rule, White House spokespeople strenuously2 avoid economic predictions, particularly when the nation's financial outlook is dim.
So it was all the more remarkable3 that President Bush's press secretary, Dana Perino, all but stated that the United States could be in a recession.
"We are in for a rocky road on the employment front, and expect our GDP [gross domestic product] number next week not to be a good one," she said. "And the next quarter could probably be tough, as well."
Two consecutive4 quarters of negative economic growth meet the technical definition of a recession.
Earlier in the day, the Labor5 Department reported another jump in the number of people filing for government unemployment benefits. The news came as a wide variety of U.S. companies - from Internet firms to investment houses to auto6 manufacturers - announced cuts in their workforces7. Many of America's best-known corporations have recently announced disappointing earnings8 that point to a broad economic slowdown.
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| Former US Federal Reserve Board chairman Alan Greenspan (File) |
On Capitol Hill, former U.S. Federal Reserve Chairman Alan Greenspan said the United States is facing a "once-in-a-century tsunami9" of tight credit and housing woes10. He predicted the economy will get worse before it gets better.
Perino did not challenge Greenspan's assessment11, saying current economic conditions make it all the more important that the financial rescue package President Bush signed into law earlier this month be implemented12 as quickly as possible.
"I do not forecast from here [the podium], but looking at reality and how long it is going to take for people to return this country to job growth, it could be a while," she said. "The president knows that we are in for a rough ride, which is why he has asked us to work everyday to try to make sure that we are doing everything we can to pull us out of this slowdown."
In February, when the first signs of economic weakness were emerging, Congress passed an economic stimulus13 plan consisting mainly of rebate14 checks to American taxpayers15. Asked about the prospects16 of rapidly enacting17 a second stimulus package, Perino noted18 that Congress will not be in full session until after the November elections.
